Wall Street analysts predict that MGP Ingredients, Inc. (NASDAQ:MGPI) will post earnings per share of $0.49 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for MGP Ingredients’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.47. MGP Ingredients posted earnings of $0.48 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that MGP Ingredients will report full year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $1.77 to $2.20. For the next fiscal year, analysts expect that the business will report earnings of $2.09 per share, with EPS estimates ranging from $1.93 to $2.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover MGP Ingredients.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The company had revenue of $86.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same period last year, the company earned $0.55 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year.

A number of brokerages have recently issued reports on MGPI. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus began coverage on MGP Ingredients in a research report on Tuesday, December 5th. They set a “hold” rating and a $73.00 price objective for the company. SunTrust Banks restated a “buy” rating on shares of MGP Ingredients in a research report on Friday, November 3rd. Finally, BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $71.75.

Shares of MGP Ingredients (NASDAQ:MGPI) traded down $1.15 on Friday, hitting $75.41. The stock had a trading volume of 95,290 shares, compared to its average volume of 143,590. MGP Ingredients has a 52 week low of $41.16 and a 52 week high of $80.75. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1,280.45, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95.

In other MGP Ingredients news, Director Karen Seaberg sold 5,305 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $64.03, for a total value of $339,679.15. Following the completion of the sale, the director now directly owns 10,591 shares in the company, valued at $678,141.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stephen J. Glaser sold 5,800 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $74.92, for a total value of $434,536.00. Following the completion of the sale, the vice president now owns 17,080 shares of the company’s stock, valued at $1,279,633.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,597 shares of company stock valued at $3,885,856. 23.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MGPI. Victory Capital Management Inc. increased its holdings in MGP Ingredients by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock worth $111,000 after purchasing an additional 325 shares in the last quarter. SG Americas Securities LLC bought a new stake in MGP Ingredients in the third quarter worth approximately $128,000. ETF Managers Group LLC bought a new stake in MGP Ingredients in the second quarter worth approximately $134,000. Suntrust Banks Inc. bought a new stake in MGP Ingredients in the second quarter worth approximately $208,000. Finally, Principal Financial Group Inc. increased its holdings in MGP Ingredients by 15.0% in the second quarter. Principal Financial Group Inc. now owns 6,101 shares of the company’s stock worth $312,000 after purchasing an additional 798 shares in the last quarter.

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About MGP Ingredients

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

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